Marketing 0.0 / 5 ? Business StudiesMarketing mixGCSEAQA Created by: Adam__Created on: 14-07-16 09:20 What 2 types of market research are there? Primary and secondary 1 of 15 What is the marketing mix? 4 P's Product, Promotion, Price and Place 2 of 15 What is the market opportunities? A trend in the market can create the possibility for a new business 3 of 15 What is the market size? The measures either the value of sales or the volume of sales 4 of 15 What is market growth? The measure of the rate at which the market increasing in size 5 of 15 What is the market share? Firms that are already in the market 6 of 15 What is market segments? These are different groups of similar needs within a market 7 of 15 Advantage of a telephone survey Can call when it is convenient to you 8 of 15 Disadvantage of a telephone survey Cannot see people's responses 9 of 15 Advantage of door to door survey Cans ee how people react and people may be more likey to tell the truth 10 of 15 Disadvantage of door to door survey Can be time-consuming 11 of 15 Advantage of focus groups Can get in depth responses 12 of 15 Disadvantage of focus groups Small groups may not reflect all your target customers 13 of 15 Advantage of internet research Cheap and quick 14 of 15 Disadvantage of internet research May not find the views of your target customers 15 of 15
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